Heparin Market is expected to be valued at approximately USD 7,350 million in 2020 and expected to reach USD 10,825 million in 2026, register a CAGR of nearly 4% during the forecast period. Recently, the outbreak of COVID-19 has been critical, as there has been a significant increase in the number of patients suffering from COVID-19, which is associated with respiratory diseases. Therefore, the demand for heparin has increased, as it helps subdue respiratory inflation and thin the blood of those with the risk of the blood clot.
The primary factor for the growth of the heparin market is the growing burden of chronic diseases. According to the World Health Organization, chronic diseases have always been a massive global challenge, and they account for approximately 60% of all deaths worldwide. The global burden of chronic diseases is expected to reach 57% by 2020.
Furthermore, according to Organization for Economic Co-operation and Development (OECD), Health at a Glance, 2019 report, almost one-third of people aged 15 years and over reported living with two or more chronic conditions, that include cancer, heart attack and stroke, chronic respiratory problems, and diabetes, on average across 27 OECD countries globally. Heparin acts as an anticoagulant that prevents the formation of blood clots, it is used before surgery to reduce the risk of in the veins, arteries, or lungs. As a result, the demand for heparin has increased. Moreover, the geriatric population is more prone to such chronic diseases, and hence, the increasing geriatric population is also increasing the demand for these surgeries. These factors have helped the growth if the market.
However, side-effects of heparin are refraining the patients from its use. This is restraining the market growth.
Key Market Trends
Low Molecular Weight Heparin (LMWH) is expected to dominate the market
Amidst this pandemic situation, an unprecedented effect on the heparin market was also observed. However, the demand for heparin was at a constant rate which led to increased production of heparin. For instance, Shenzhen Panorama Network's new products of low molecular weight heparin preparations were increased to expand the market.
Low molecular weight heparins (LMWHs) are a new class of anticoagulants derived from unfractionated heparin (UFH). LMWHs are used in the prevention of blood clots, treatment of venous thromboembolism, and treatment of myocardial infarction. They are also commonly being used to prevent thrombosis.
The companies are constantly indulged in developing new products that are expected to drive the market growth. For instance, in May 2020, Meitheal Pharmaceuticals Inc. received the United States Food & Drug Administration approval for Enoxaparin Sodium Injection (USP), the generic equivalent of Lovenox. Such developments are expected to support market growth in this segment.
North America is Expected to Dominate the Market
North America is expected to majorly contribute to the Heparin market growth. Amidst the COVID-19 situation, heparin was heavily studied for the treatment of COVID-19 which positively affected the market growth. According to a press release of July 2020, researchers from Rensselaer Polytechnic Institute, the United States heparin can effectively neutralize the SARS-CoV-2 virus. Such studies are expected to positively impact market growth.
The major factors expected to drive the market growth in the United States are the growing burden of diseases coupled with the rising geriatric population and the rising number of approvals. According to the Population Reference Bureau Fact sheet, the number of Americans above 65 years of age is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group's share of the total population will rise from 16 percent to 23 percent, which shows a positive impact on the heparin market, as the geriatric population is more prone to chronic diseases.
In addition, the burden of cancer is increased in the United States. According to Globocan, 2020, the prevalence of cancer was recorded to be around 8,432,938 and estimated number of new cases were recorded to be 2,281,658 in the United States. Heparin is commonly used in the treatment of cancer associated with thromboembolism.
Furthermore, the rising product approvals in the country are further expected to thrive the market growth. For instance, in November 2019, Fresenius Kabi announced the availability of the preservative-free heparin sodium injection, USP in 5,000 units per 0.5 mL, Simplist, in ready-to administer prefilled syringes in the United States. Thus, owing to the above-mentioned factors are expected to the thrive the market growth.
Heparin market is inclusive of international companies as well as local players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing the emergence of some small players due to the rise of awareness. This has also helped the market grow. Some of the major market players in the Heparin market are B Braun Melsungen AG, Pfizer Inc., Opocrin Spa, Aspen Pharmacare Holdings Limited, Baxter International, Leo Pharma A/S, and Dr. Reddy's Laboratories, among others.
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TABLE OF CONTENTS
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Chronic Diseases
- 4.2.2 Rise in Geriatric Population
- 4.3 Market Restraints
- 4.3.1 Side Effects of Heparin
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Product
- 5.1.1 Unfractionated Heparin
- 5.1.2 Low Molecular Weight Heparin (LMWH)
- 5.1.3 Ultra-Low Molecular Weight Heparin (ULMWH)
- 5.2 By Source
- 5.2.1 Bovine
- 5.2.2 Porcine
- 5.3 By Application
- 5.3.1 Atrial Fibrillation & Heart Attack
- 5.3.2 Stroke
- 5.3.3 Deep Vein Thrombosis (DVT)
- 5.3.4 Others
- 5.4 Geography
- 5.4.1 North America
- 22.214.171.124 United States (By Product, By Source, and By Application)
- 126.96.36.199 Canada (By Product, By Source, and By Application)
- 188.8.131.52 Mexico (By Product, By Source, and By Application)
- 5.4.2 Europe
- 184.108.40.206 Germany (By Product, By Source, and By Application)
- 220.127.116.11 United Kingdom (By Product, By Source, and By Application)
- 18.104.22.168 France (By Product, By Source, and By Application)
- 22.214.171.124 Italy (By Product, By Source, and By Application)
- 126.96.36.199 Spain (By Product, By Source, and By Application)
- 188.8.131.52 Rest of Europe (By Product, By Source, and By Application)
- 5.4.3 Asia-Pacific
- 184.108.40.206 China (By Product, By Source, and By Application)
- 220.127.116.11 Japan (By Product, By Source, and By Application)
- 18.104.22.168 India (By Product, By Source, and By Application)
- 22.214.171.124 Australia (By Product, By Source, and By Application)
- 126.96.36.199 South Korea (By Product, By Source, and By Application)
- 188.8.131.52 Rest of Asia-Pacific (By Product, By Source, and By Application)
- 5.4.4 Middle East and Africa
- 184.108.40.206 GCC (By Product, By Source, and By Application)
- 220.127.116.11 South Africa (By Product, By Source, and By Application)
- 18.104.22.168 Rest of Middle-East and Africa (By Product, By Source, and By Application)
- 5.4.5 South America
- 22.214.171.124 Brazil (By Product, By Source, and By Application)
- 126.96.36.199 Argentina (By Product, By Source, and By Application)
- 188.8.131.52 Rest of South America (By Product, By Source, and By Application)
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Aspen Pharmacare Holdings Limited
- 6.1.2 B Braun Melsungen AG
- 6.1.3 Baxter International Inc.
- 6.1.4 Dr. Reddy's Laboratories
- 6.1.5 Hebei Changshan Biochemical Pharmaceutical
- 6.1.6 Leo Pharma A/S
- 6.1.7 Opocrin S.p.A
- 6.1.8 Pfizer Inc.
- 6.1.9 FRESENIUS KABI
- 6.1.10 GLAND PHARMA
- 6.1.11 HIKMA PHARMACEUTICALS
- 6.1.12 Hospira Inc.
- 6.1.13 MYLAN LABORATORIES
- 6.1.14 Novartis AG
- 6.1.15 Smiths Medical
7 MARKET OPPORTUNITIES AND FUTURE TRENDS